Abbott forges development deal

Abbott Laboratories on Monday said it will work with New Jersey-based biopharmaceutical company Medarex Inc. to research and develop human antibodies that could be used to treat cancer, infectious diseases and other conditions.

The multi-year agreement calls for North Chicago-based Abbott to create therapeutic antibodies using Medarex's patented UltiMAb Human Antibody Development System, a spokeswoman said. Once developed, Abbott will test and market the products and pay Medarex license fees and royalties on any sales that result. The Abbott spokeswoman would not discuss financial details.

Medarex officials say using human antibodies can reduce the time and cost of drug development. And because the antibodies are natural proteins, they are likely to be less toxic and more effective than chemical drugs used to treat cancer and other life-threatening diseases.

"We are excited about the important role that our fully human antibodies could play in Abbott's product development pipeline," Medarex CEO Dr. Donald Drakeman said in a statement.